SECTION 12. NEW LAW A new section of law to be codified in the Oklahoma
Statutes as Section 2357.63C of Title 68, unless there is created a duplication
in numbering, reads as follows:

A. Each
qualified small business capital company shall prepare and maintain on a
current basis the following records and make them available to the Oklahoma Tax
Commission upon request:

1. Files
for each director and principal of the capital company including the name,
address, social security number or federal identification number and such other
identifying information as the Tax Commission may require;

2.
Records concerning all securities and subordinated debt issued by the capital
company which include:

a. the
type of the security and subordinated debt issued,

b. the
name, address and telephone number of the investor,

c. the
date of the transaction, and

d. the
total amount of the qualified investment;

3.
Records relating to each person making a qualified investment which shall
include the social security number or federal tax identification number of each
investor;

4.
Records relating to each Oklahoma small business venture in which the capital
company made a qualified investment which includes:

a. the
name of the business,

b. location
of the headquarters and principal business operations of the business,

c. a
description of the type of business in which engaged,

d. evidence
that the venture meets the definition of an Oklahoma small business venture,

e. a
copy of any contractual agreement entered into between the capital company and
the venture,

f. the
amount of qualified investment in the venture,

g. the
type of investment along with supporting documentation,

h. the
date of the investment, and

i. the
source of funds invested;

5.
Organizational documents of the qualified small business capital company and
any additional documents relating to the organization or operation of the
capital company as requested by the Tax Commission;

6.
Records relating to all capitalization of the capital company which is not
invested in Oklahoma small business ventures;

7.
Records relating to all distributions made by the capital company which
includes the date of the distribution, the amount of the distribution, to whom
the distribution was paid, and the purpose of the distribution; and

8. All
other records that may be requested by the Tax Commission.

B. All
records required by this section shall be preserved for a period of ten (10)
years.